Sold flat in APR 17 for Rs 49,90,L and the CG 35 lac . Flat was in name . purchasing a Flat for 50 Lac . can I purchase flat in wife's name as 1st & self in 2nd owner.
2) Can I take loan of 10L in wife's or in my name
Need your help urgently
4 Answers
Best Answer
Dear Sir ,
The Flat wan in my name only .
The LTCG amount is approx 35LAC .
The New Flat Cost is 47.94 + registration and stamp duty .
Hi,
In whose name the Flat was?
Related article :
https://www.relakhs.com/how-to-save-capital-gains-tax-on-sale-of-land-house-property/
Hi,
"The new property must only be bought on the name of the seller and not on anybody else’s name. Joint ownership can be acceptable but exemption can be limited to the share of ownership."
But, recently there has been a court judgement on this related issue -
Which says that a tax assesse can re-invest the LTCG in a property under joint name.
Kindly go through this article...
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